Traders and their referrals can each get $50 for a referral. Traders in the FXTM Pro Account have no restrictions on trading strategies, can use the MT4/MT5 trading platforms, while the minimum transaction size remains 0.01 lots. PricewaterhouseCoopers Limited (PwC) also audits select performance statistics, and FXTM remains one of the more transparent brokers.
FXTM established itself among the most trusted Forex brokers industry-wide. FXTM is a legit company, operating with four regulatory licenses and acquiring a fifth. FXTM’s minimum deposit for residents of South Africa is only $200. FXTM caters to most international traders, including the UK, India, Malaysia, and the Philippines. It does not accept traders resident in Canada or the US. Please note that equity markets open and close each trading and are not operational continuously like Forex and cryptocurrencies.
- Trading with an ECN account results in a better rate thanks to a reduced average percentage in point (pip) values but requires a higher minimum deposit amount.
- I always recommend that traders check them before evaluating the total trading costs.
- Thank you for detailing your experience with our super-awesome Account Manager – Najib Atallah.
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We are continually improving our services to enhance your journey with us and we are always building towards adding more benefits and tools so you can always find more value with FXTM. Thank you for your kind suggestions because feedback like yours will help us improve our services so we can show more love to our dear clients. We will share them with our specialists and please do contact us if you need any assistance.
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As the name suggests, your account balance is always displayed in cents. This means that a $10 deposit will be displayed as 1000 cents. Trading on an ECN account ensures that you get the absolute best price in the market at any given time. FXTM use tiered commissions which mean commission costs will are lower if you hold more equity in your FXTM trading account and the more volume you trade. FXTM offers six account types, split into two main categories.
If you want short term results, then choose a scalping system. As highlighted above, the ability to trade individual share CFDs on MT4 is one of the most exciting aspects of opening an account with FXTM. With real-time prices sourced directly from the NYSE and the NASDAQ, trade price movements of some of the largest global companies. If you’re looking to take advantage of movements in an entire country’s stock market, you’re still able to trade index CFDs on MT4 with FXTM. FXTM’s Indices markets have some of the lowest spreads, making them a popular choice.
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The traditional method of Bank Wire Transfer is also available, but the deposits will take up to five days to hit the xcritical reviews account. You can read high-quality articles on forex trading, view video tutorials, sign up for webinars, and check out the glossary. ForexTime is also home to a five-level loyalty program, which rewards loyal traders with bonus offers, cash back, and many other benefits.
However, ECN accounts charge a commission based on trade volume. For traders who prefer not to pay commissions, FXTM offers standard accounts with wider spreads starting from 1.3 pips. FXTM offers a range of account types to suit different trading styles. These include Standard Accounts, which are ideal for new traders, and ECN Accounts, which provide tighter spreads but come with commission fees. Additionally, FXTM provides a Cent Account, ideal for beginners who want to trade with smaller amounts. FXTM is a global forex broker offering access to a wide range of markets through the MT4/MT5 platform.
I also like the upgraded MT4/MT5 trading platforms and overall transparency at FXTM, which I confidently rank among the very best Forex brokers. Depositing funds into trading accounts and withdrawing profits is an easy process, which hardly takes any time. FXTM offers a wide range of local and international banking methods, many of which can be used for deposits as well as withdrawals. I want to point out that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy. FXTM will return funds to the payment processors used for deposits, and it appears that traders must withdraw profits exceeding them via bank wire only, which is expensive. The MyFXTM back office is where traders make all their deposits and withdrawals.